Residential exemptions are reduction on your tax bill if you live in the home you own. Most towns have some sort of residential exemption, usually calculated with a deduction off the assessed value of your principle residence. Your principle residence is defined as the address used on your last income tax filing.
In Brookline, the residential exemption is a percent of the total assessed value of a home, while in Boston it is a constant number. Brookline’s exemption does not exceed 20% , and in FY2012 was approximately 16.5%. In Boston, owner occupants saved $1,644.28 on their tax bill in FY2012.
Since fiscal years in this municipalities run July 1 – June 30th, FY 2013 is upon us. It is time to ensure you have your residential exemption application in! If you’ve occupied your home since January 1, 2012 or earlier, you are eligible for this significant savings on your property tax bill.
Go online to your assessor’s database to learn if you have your residential exemption in place:
Boston Assessor’s Database: http://www.cityofboston.gov/assessing/search/?q=
Once you find your property, click on the details. On the top portion of the page look for “FY2012 Residential Exemption” and it should say, “Yes.” You do not have to reapply for the exemption; it is all set until you say otherwise.
Brookline Assessor’s Property Lookup: http://www.brooklinema.gov/assessors/propertylookup1.asp
Submit property information and then click on Full Record. You will find the residential exemption information under the “Value/Taxes” tab, first line.
If you need to apply for the residential exemption find the forms here:
Boston: Applications are available online only January 1 – March 30th, but you can apply anytime. Application forms are available at the Assessing Department, Room 301, City Hall or at the Taxpayer Referral & Assistance Center (TRAC), Rm M5, City Hall. The TRAC (617-635-4287) is open Monday through Friday from 9am - 5pm.
It’s a bit easier in Brookline: http://www.brooklinema.gov/index.php?option=com_docman&task=cat_view&gid=375&Itemid=94
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